I worked to age 68 while signing up for Medicare part A at the age of 65. There is no reason not to sign up for part A. It costs nothing and covers only hospitalization. In fact I was hospitalized for surgery while I was still employed at age 67 and part A picked up my entire hospitalization copay as secondary insurance. All the while FEHB was primary.
I picked up part B at age 69 after retiring at age 68. That is when part Medicare part B became primary and FEHB became secondary. FEHB becomes secondary when one picks up part B, not before. If one were to happen to pick up part B before retiring it would become primary with FEHB secondary even though still employed.
These days with part B primary and my FEHB secondary I have no medical expenses except for prescription drugs which are covered in part by my FEHB. With FEHB + Medicare B all copays, coinsurance, and deductibles are covered. I don't know if this is true for all FEHB plans but it is for my MHBP and some others. Of course my medical insurances (FEHB + Medicare part B) are medical expenses and are a pretty good chunk of change each month. But my medical insurance bill of about $280 per month is still lower than that of many folks who self-pay for insurance and still have copays.
Please remember if you work past age 65, are still carrying your FEHB, and have not signed up for part B yet you have 8 months to sign up for part B post retirement to avoid the penalty of 10% per year for part B premiums. I suggest downloading Medicare form CMS-L564, Request for Employment Information, from the Medicare site. Take that form to your HR before leaving station and have them sign off on it to verify that you have had medical insurance while employed past age 65. Medicare requires you submit that form if signing up for part B after age 65 to avoid the penalty they impose for signing up after age 65.
Happy Retirement and good health !
__._,_.___
Posted by: Mark Morrison <mark3m@swbell.net>
| Reply via web post | • | Reply to sender | • | Reply to group | • | Start a New Topic | • | Messages in this topic (9) |
Have you tried the highest rated email app?
With 4.5 stars in iTunes, the Yahoo Mail app is the highest rated email app on the market. What are you waiting for? Now you can access all your inboxes (Gmail, Outlook, AOL and more) in one place. Never delete an email again with 1000GB of free cloud storage.
Neither the TSP Strategy group, nor individual members, are licensed or authorized to provide investment advice. Any statements made herein merely reflect the personal opinions of the individual group member. Please make your own investment decisions based upon your personal circumstances.
SPONSORED LINKS
.
__,_._,___
Anda baru saja membaca artikel yang berkategori dengan judul [TSP_Strategy] Re: Medicare Disadvantage. Anda bisa bookmark halaman ini dengan URL https://1stleadershipworkshop.blogspot.com/2018/09/tspstrategy-re-medicare-disadvantage.html. Terima kasih!
Ditulis oleh:
Andriansyah -
Belum ada komentar untuk "[TSP_Strategy] Re: Medicare Disadvantage"
Post a Comment